REBGV/FVREB Stats For Friday June 1, 2018

REBGV and FVREB Real Estate Stats for June 1st, 2018

Sales Snapshot:

Sales Snapshot

Real Estate Board of Greater Vancouver (REBGV) Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-06-01105$1,123,675$1,089,730$33,9443.0224

Fraser Valley Real Estate Board (FVREB) Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-06-0162$804,254$793,289$10,9641.3623

Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-06-01167$1,005,087$979,674$25,4132.5323

Market Monitor All Properties

Sell/list 47.7%. Number is quite steady when compared to yesterday.

Average price, all properties, both boards was below $1 million by about 2.1%. Average sold price was $979,674.

What about the attached market?

Real Estate Board of Greater Vancouver (REBGV) Attached Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-06-0183$864,250$853,326$10,9241.2620

Fraser Valley Real Estate Board (FVREB) Attached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-06-0132$504,739$505,874$-1,134-0.2220

Attached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-06-01115$764,212$756,644$7,5680.9920

Market Monitor Attached

These are detached:

Real Estate Board of Greater Vancouver (REBGV) Detached Results

Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-06-0122$2,102,413$1,981,618$120,7945.7536

Fraser Valley Real Estate Board (FVREB) Detached Results
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-06-0127$1,182,077$1,159,037$23,0401.9525

Detached Results for Both Boards
Date# Of
Sales
Avg
List
Price
Avg
Sale
Price
Avg
Diff$
Avg
Diff%
Avg
DOM
2018-06-0149$1,595,289$1,528,359$66,9304.2030

Market Monitor Detached
Sell/list 27.4% Another significant drop from Thursday.

  • 11 properties sold for $2 million or more. A 2 property increase from the day before.
  • 34 sold for $500,000 or less. 5 less properties than the day before..
  • The least expensive sales? A Condo in Abbotsford, $205,000, 2 Days on Market.
  • Most expensive? A 8.5 Million Mansion in Shaughnessy, located on the West side of Vancouver. 122 Days on Market.
  • 49 properties sold within 7 days. Much lower than yesterday, it should be noted that the least expensive sale today was sold within 7 days.
  • Longest time on market? A Duplex in Mission, $425,000, 168 Days on Market. The second longest was the most expensive property sold today. 168 Days on Market.

Inventory

Inventory has decreased, by 1.08% when compared to the day before.

REBGV Total

GV Total Inventory

Note the labels in the boxes. Status “A” means “Active”; Region is self explanatory; Class “RD” means “Residential Detached” (or “Attached”, as the case may be). There are slight discrepancies between the total inventory and the sum of detached and attached – those discrepancies reflect multi-family and land sales.

REBGV Detached

GV Detached
REBGV Attached

GV Attached
FVREB Total

FV Total inventory

FVREB Detached

FV Detached Inventory

FVREB Attached

FV Attached Inventory
Total Inventory Both Boards

Total Inventory
How to read these tables:

The first column is date, which is self-explanatory. The second is the number of sales in the specific area. Sales include detached, attached, apartment, land only and multi-family. Multi-family tends to include smaller multi-unit buildings rather than apartment buildings, which usually turn up on the commercial MLS system. There are also few multi-family sales each week. The third column is average list price for the day – in other words, the total of all list prices divided by the number of new listings. The fourth column is the average sales price of all sales reported that day. The sales are reported after subjects are removed, and can be from 0 to perhaps 14 days old. Listings, by comparison, are generally brand new, and lag by at most 3-5 days (in times of high listing volume the lag can be a little more, but not as much as with sales).

The fifth and sixth columns show the difference between average list price and sell price in dollar figures and percentages. Hot markets see properties sell within 1%-1.5% of list price.

The last column is days on market (DOMs). In most real estate markets 60 DOMs is by no means bad, and would often be regarded as great. In the Lower Mainland, especially compared to the last decade, it is high. Hot markets see DOMs like 30.

Vancouver real estate sales statistics are courtesy of the Real Estate Board of Greater Vancouver, and while all efforts are made to ensure their accuracy, neither the REBGV nor Rob Chipman are liable for any errors.

4 comments

  1. Help me understand this please :
    MAY 31, 2018 – Inventory has dropped, only 0.30% however. It is noteworthy for being such a small change. Similar to the rest of the week. – REBGV 11977
    JUNE 1, 2018 – Inventory has increased, by 47.8 % when compared to the day before. Quite a significant increase compared to the rest of the week. – REBGV 118177

  2. Hi Alex:

    Math boo boo is the best explanation I can tell you. I was on the road by the time Friday night’s post went up, and was without web access. The young fellow I had posting the numbers that evening is a great guy, but the obvious red flag of 47.8% increase didn’t stick out to him like it would to you and I.

    Aside from that I can’t explain it. REBGV dropped, FVREB climbed a bit, but overall both boards are down a bit.

    I’ve fixed the percentage change. Thanks for catching that and the re-direct hack (which we’re working on right now).

  3. Hey Rob,

    Thanks for the quick reply last time.

    I noticed that your total inventory level reported on May 31st was 11,977 and on June 1st was around 11,817.

    However, the REBGV monthly report stated that the total inventory at the end of May was 11,292. This seems to be around 4-6% less than your daily reporting which seems like a pretty significant difference.

    Do you know why there is so much discrepancy between your data and the REBGV monthly data??? Is the REBGV monthly report unreliable or exclude certain listings depending on some criteria?

    https://www.rebgv.org/monthly-reports/may-2018

  4. I’ll take a look at the monthly report. I planned to do that this morning, but between Twitter and Facebook it’s been a busy day. I’ll bet $20 the REBGV report is not unreliable – my figures are their figures. I think they may be counting somewhat different properties. I count land and multi-family in my daily numbers, for example, and they may be leaving out either or both. Approximately 700 units – tough to say that’s just land, but it may also include multi-family (i.e. triplexes, duplexes, not apartment buildings). I’ll try to resolve that if I get a chance.

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